In January of 2010 the United States passed the “Dodd-Frank Wall Street Reform and Consumer Protection Act”. This Act requires that “all related records (including related cash and forward transactions) and recorded communications, including electronic mail, instant messages, and recording of telephone call” be stored for a year. The Act went into effect in December 2012.
U.S. CFTC (Commodity Futures Trading Commission) regulation 1.35 also imposes record keeping requirements for transaction related telephone communications on financial institutions.